2023 Economics final exam

2023 Economics final exam

12th Grade

60 Qs

quiz-placeholder

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2023 Economics final exam

2023 Economics final exam

Assessment

Quiz

Social Studies

12th Grade

Easy

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60 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics can be defined as ________________.

the science of decision making

the study of human behavior

the science of buying and selling

the study of unlimited resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Individuals who come up with a new idea for a good or service, then they make it a reality

resource
human resources
consumer
entrepreneur

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The place where goods and services are exchanged

barter
currency
market
resource

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are 3 basic economic concept?

Scarcity,Choice,Opportunity Cost

Choice,Demand,Preference

Land,Capital,Labour

Production,Capital good,Public Good

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When something given up for something else is called?

Choice
Capitalism
Inflation
Opportunity Cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which two basic economic principles create the need for choices?

scarcity and contentment

utility and opportunity

insatiability and scarcity

subjective value and utility

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two basic elements of the circular flow model?

banks and households

households and business firms

business firms and stock markets

stock markets and banks

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